EToys to Lay Off 70% of Workers,
Close Two Warehouse Operations

By

Lisa Bannon Staff Reporter of The Wall Street Journal

Updated Jan. 5, 2001 12:01 a.m. ET

LOS ANGELES -- EToys Inc., an online children's retailer that was once one of the darlings of the dot-com world, said it will lay off about 70% of its work force and close two warehouse operations as part of a broad cost-reduction plan.

After the company announced Dec. 15 that its holiday sales would be about half of what it originally projected and it would run out of money by March, its funding options became very limited....